NRx Pharmaceuticals (NRXP) announced that it will present data at the Disease Control and Prevention Summit on July 21 about the positive effects of using the ZYESAMI™ (Aviptadil) drug to help prevent “Cytokine Storm” in COVID-19 patients. Shares rose 45.3% on the news to close at $12.38 on July 19. (See NRx Pharmaceuticals stock charts on TipRanks)
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
NRx conducted its phase 2b/3 trials of ZYESAMI™ in critically ill patients with COVID-19 respiratory failure and found that the drug prevented a sharp increase in the interleukin 6 (IL-6) cytokine levels, which are commonly associated with mortality in COVID-19 patients.
The company also stated that the anti-cytokine effect of ZYESAMI™ was associated with a significant decrease in 60-day mortality.
Cytokine Storm is a condition in which the inflated levels of IL-6 lead to multiple organ failure.
NRx has submitted its findings to the US FDA, along with its pending application for Emergency Use Authorization (EUA) of ZYESAMI™.
The company has also submitted a biomarker letter of intent to the FDA under its biomarker program.
Prof Jonathan Javitt, MD, MPH, Chairman and CEO of NRx, said, “At a time when hospital admissions for COVID are rising worldwide, these placebo-controlled biomarker data suggest that aviptadil may play a critical role in preventing the sudden elevation of cytokines that is associated with mortality.”
TipRanks’ Stock Investors tool shows that investors currently have a Very Negative stance on NRx Pharmaceuticals, with 4.5% of portfolios tracked by TipRanks decreasing their exposure to NRXP stock over the past 30 days.
Related News:
Pershing Square Tontine Withdraws from Universal Music Investment
Ford Recalls Vehicles; Shares Sink 2.9%
Why MoneyGram Stock Spiked on Friday?
